Comments on: Planning for receiving an inheritance? http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/ Personal finance, commentary, and spending less the easy way Wed, 17 Mar 2010 19:08:04 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: garland http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/comment-page-1/#comment-182723 garland Sun, 28 Jun 2009 11:53:35 +0000 http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/#comment-182723 I am gifted a home worth $$50,000 by my Dad.He has close $30,000 in unsecured debt and makes regular, timely monthly payments. He won't consider bankruptcy or debt solution.What is the best way to handle this property so I can keep the home if something were to happen to my Father? Any ideas would be much appreciated-- Thanks,Garland I am gifted a home worth $$50,000 by my Dad.He has close $30,000 in unsecured debt and makes regular, timely monthly payments. He won’t consider bankruptcy or debt solution.What is the best way to handle this property so I can keep the home if something were to happen to my Father? Any ideas would be much appreciated– Thanks,Garland

]]> By: 1031 exchange http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/comment-page-1/#comment-109001 1031 exchange Wed, 19 Dec 2007 00:18:00 +0000 http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/#comment-109001 Would love to hear your ideas on how you invested the money - stocks, bonds ? Would love to hear your ideas on how you invested the money – stocks, bonds ?

]]> By: Tisha Guard http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/comment-page-1/#comment-40633 Tisha Guard Thu, 29 Mar 2007 23:50:28 +0000 http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/#comment-40633 As they say, fools and their money part soon. Had this friend who received a large inheritance. Spent the whole pile on fast cars, vacations and the remainder was consumed by fast friends! As they say, fools and their money part soon. Had this friend who received a large inheritance. Spent the whole pile on fast cars, vacations and the remainder was consumed by fast friends!

]]> By: boomie http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/comment-page-1/#comment-39099 boomie Tue, 20 Mar 2007 15:12:02 +0000 http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/#comment-39099 a few months before my 91 yr old dad passed away, while very sick, he demanded that he see me. when he came to my house he looked around and told me that i handled money very well and told me he was leaving me money to finish my house. i was in the middle of building a new home, without a mortgage. dad was very impressed. after my daddy passed, he left me almost a million dollars, more than enough to finish my house. i finished the home, bought another home at a beach (no mortgage), went to Paris and Italy and invested the rest, I live off the interest and will never work again. a few months before my 91 yr old dad passed away, while very sick, he demanded that he see me. when he came to my house he looked around and told me that i handled money very well and told me he was leaving me money to finish my house. i was in the middle of building a new home, without a mortgage. dad was very impressed.
after my daddy passed, he left me almost a million dollars, more than enough to finish my house.
i finished the home, bought another home at a beach (no mortgage), went to Paris and Italy and invested the rest, I live off the interest and will never work again.

]]> By: fivecentnickel.com http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/comment-page-1/#comment-38878 fivecentnickel.com Mon, 19 Mar 2007 02:04:52 +0000 http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/#comment-38878 <strong>Weekly Roundup - 03/16/07...</strong> Here’s a quick look at some of the articles that caught my eye over the past week… JLP is remodeling his kitchen. See here for a followup. Flexo got busted for driving like a maniac. Jim has an interesting post about fixed mortgage paymen... Weekly Roundup – 03/16/07…

Here’s a quick look at some of the articles that caught my eye over the past week…

JLP is remodeling his kitchen. See here for a followup.
Flexo got busted for driving like a maniac.
Jim has an interesting post about fixed mortgage paymen…

]]> By: Red Dawg http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/comment-page-1/#comment-38614 Red Dawg Fri, 16 Mar 2007 17:18:54 +0000 http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/#comment-38614 Great topic! It isn't possible to inherit debt... thank goodness. The deceased’s estate must stand good for the debts, once the estate money runs out… the creditors don't get paid. This may mean that the house / car / boats, etc has to be sold to satisfy the debts. Any remaining balance is not the responsibility of the heirs; unless they signed for the debt in the first place. In that case they aren’t inheriting the debt, as they are already responsible for it. This is a consideration for being debt free. If you die and don't owe a sole... there is much less for your heirs to deal with. Not to mention the inheritance would be much greater. Great topic!

It isn’t possible to inherit debt… thank goodness.

The deceased’s estate must stand good for the debts, once the estate money runs out… the creditors don’t get paid. This may mean that the house / car / boats, etc has to be sold to satisfy the debts. Any remaining balance is not the responsibility of the heirs; unless they signed for the debt in the first place. In that case they aren’t inheriting the debt, as they are already responsible for it.

This is a consideration for being debt free. If you die and don’t owe a sole… there is much less for your heirs to deal with. Not to mention the inheritance would be much greater.

]]> By: Free Money Finance http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/comment-page-1/#comment-38588 Free Money Finance Fri, 16 Mar 2007 10:27:20 +0000 http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/#comment-38588 <strong>Star Money Articles for the Week of March 12...</strong> Here are interesting posts and news this week from the MoneyBlogNetwork members and beyond: Blueprint for Financial Prosperity recommends investing in your company. Consumerism Commentary discusses discounts at Kohl's. AllFinancialMatters reads about ... Star Money Articles for the Week of March 12…

Here are interesting posts and news this week from the MoneyBlogNetwork members and beyond: Blueprint for Financial Prosperity recommends investing in your company. Consumerism Commentary discusses discounts at Kohl’s. AllFinancialMatters reads about …

]]> By: plonkee http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/comment-page-1/#comment-38283 plonkee Wed, 14 Mar 2007 12:28:45 +0000 http://www.mightybargainhunter.com/2007/03/14/planning-for-receiving-an-inheritance/#comment-38283 I have thought and posted on what I would do if I got a windfall. I would be happier, though, if either of my parents left just enough for a decent funeral. I'm very independent minded and don't really like the thought of getting money from my folks, even if they are dead. I have thought and posted on what I would do if I got a windfall.

I would be happier, though, if either of my parents left just enough for a decent funeral. I’m very independent minded and don’t really like the thought of getting money from my folks, even if they are dead.

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